A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

With gold smashing through its all time record high this morning on the back of fears over a double dip recession, analysts are turning increasingly bearish on the markets. Anthony Fry, senior managing director at Evercore Partners, told CNBC that the bond markets could turn nasty over the next few months and said that the current problems created by the European debt crisis could be with us for at least five years.

“Look at the current situation. You have Greece, now you have Hungary and huge issues surrounding Spain and Portugal,” he said, warning of a “nightmare scenario” of hyper-stagflation, where inflation rises dramatically but asset prices deflate.

“I don’t want to scare anyone but I am considering investing in barbed wire and guns, things are not looking good and rates are heading higher,” said Fry.

“Over the next 6 months we will see private sector deflation pushing 10-year yields down to 2 percent,” he said. “This will see the policymakers mistakenly attempt to kick-start the economy and market with a global quantitative easing program worth between $10 and $15 trillion dollars.”

Janjuah pointed out that, while gold has dramatically risen in value over the last ten years, the S&P 500 and the Dow Jones have both remained flat over the course of a decade.

“Far be it for me to make a dicey situation dicier but you can’t smell the sulphur in the air right now and not think we might be on the threshold of an age of rage,” wrote historian Simon Schama in his recent Financial Times column.

May 16 (Bloomberg) — Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said.

“I wouldn’t rule out that this may be a recourse,” Papandreou said, in response to questions about the role of U.S. banks in the crisis, in an interview on CNN’s “Fareed Zakaria GPS.” The program, scheduled for broadcast today, was taped on May 13. Neither Papandreou nor Zakaria mentioned any banks by name.

U.S. stocks fell and the euro slumped on concern that Europe wouldn’t be able to contain the debt crisis stemming from Greece. The Standard & Poor’s 500 Index declined 1.9 percent May 14, while the euro fell below $1.24 for the first time since November 2008.

Papandreou said the decision on whether to go after U.S. banks will be made after a Greek parliamentary investigation into the cause of the crisis.

“Greece will look into the past and see how things went,” Papandreou said. “There are similar investigations going on in other countries and in the United States. This is where I think, yes, the financial sector, I hear the words fraud and lack of transparency. So yes, yes, there is great responsibility here.”

9/11 Truth

Architects & Engineers for 9/11 Truth
1193 architectural and engineering professionals and 8042 other supporters including A&E students have signed the petition demanding of Congress a truly independent investigation. Sign the petition on this site.

Ottawa 9/11 Truth
A group dedicated to educating the public and questioning our elected representatives about the issue of 9/11 truth. Education and activism.

Pilots For 9/11 Truth
Pilots for 9/11 Truth is an organization of aviation professionals and pilots throughout the globe who have gathered together for one purpose. We are committed to seeking the truth surrounding the events of the 11th of September 2001.

WhatREALLYhappened
Mike Rivero’s HUNDREDS of questions that need to be answered, plus some great articles in the archives.

Activism

Activist Post
Our new site offering independent news. Now is the time to get active!

Checkpoint USA
Standing up for our legal right to remain anonymous in America. We DO NOT have to give them our papers.

We Are Change
A grassroots organization dedicated to peace and social justice working to reveal the truth behind the events of September 11th, as well as the lies of the government and corporate elite.

One Heart Books
A variety of books about The New World order, alternative medicine, and consciousness

Peter Dale Scott
Peter Dale Scott is an eloquent inspiration for many modern researchers.

Thom Hartmann
Last Hours of Ancient Sunlight — A complete analysis of the how we let ourselves destroy our planet, as well as the personal responsibility each of us has to change our perception of what we admire.

Eugenics

L.E.A.R.N.
For or against abortion, you should know about how organizations like Planned Parenthood really operate

Health and Survival

2012 News — Lawrence Joseph
There is quite a bit of science which shows that from now until 2012 will be a very tumultuous time for the planet. One look at current earthquake activity supports Joseph’s analysis.

Dr. Len Horowitz
Tetrahedron, LLC is a non-profit educational corporation that was founded in 1978 by internationally known public health authority, Dr. Leonard G. Horowitz, to educate people around the world on matters of extreme public importance.

Journalism

Daniel Estulin
Best known for his tracking of The Bilderberg Group, Estulin is a real journalist covering many facets of The New World Order.

Dr. Paul Craig Roberts
Former Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. Incisive columns from another real journalist.

Dr. Stanley Montieth
Bringing you the Story behind the Story, the News behind the News. Hosted by Dr. Stanley Montieth, who is a leader in the battle against the medical establishment.

McClatchy News
Truth to Power — covering topics normally off limits in the mainstream. They have done a particularly great job with their Goldman Sachs investigation.

Rick Newman
I don’t always agree with his conclusions, but Rick Newman is in the mainstream media highlighting the important issues that we often cover.

Webster Tarpley
Long-time researcher and author Webster Tarpley has an amazing record for predicting geopolitcal events. A real journalist.

Non-partisan Organizations

Campaign For Liberty
Promoting American principles of individual liberty, constitutional government, sound money, free markets, and a noninterventionist foreign policy, by means of educational and political activity.

Freedom Force International
A network of men and women from all parts of the world who are concerned over loss of personal liberty and expansion of government power.

Global Research
An independent research organization and media group of writers, scholars, journalists and activists based in Montreal. It is a registered non profit organization in the province of Quebec.

The Nature of Reality

David Icke
Icke lets information and intuition direct his course; his conclusions about the nature of reality are mind-opening. He is fearless and tireless in his quest for the prime truth and does not shrink from the term “Conspiracy”